The Wealth of Nations

By Adam Smith
Read by Michael Edwards

36.00 Hours 11/20/2010 unabridged
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First published in 1776, this work is the classic statement of economic liberalism or the policy of laissez-faire and is widely considered on of the hundred greatest books of all time. Several fundamental principles or “axioms” were introduced in this work, including the division of labor, supply and demand, and free market capitalism as some of the most obvious. Smith’s political economy is primarily individualistic: self-interest is the incentive for economic action. However, he shows that universal pursuit of self-interest contributes to the public interest, a concept probably best encapsulated by John F. Kennedy when he remarked, “a rising tide raises all boats.”

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Summary

Summary

First published in 1776, this work is the classic statement of economic liberalism or the policy of laissez-faire and is widely considered on of the hundred greatest books of all time. Several fundamental principles or “axioms” were introduced in this work, including the division of labor, supply and demand, and free market capitalism as some of the most obvious. Smith’s political economy is primarily individualistic: self-interest is the incentive for economic action. However, he shows that universal pursuit of self-interest contributes to the public interest, a concept probably best encapsulated by John F. Kennedy when he remarked, “a rising tide raises all boats.”

Editorial Reviews

Editorial Reviews

“Simply the best book on political economy ever written. It is a genuine ‘breakthrough’ book whose magisterial scope and synthesis have not been surpassed.” Dr. Razeen Sally, senior lecturer, London School of Economics, and codirector of the European Center for Political Economy
“Adam Smith’s enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things.” Robert L. Heilbroner, author of The Worldly Philosophers
“The Wealth of Nations is no defender of ‘greed is good’ economics; the author’s humanity and benevolence tint every page.” Eamonn Butler, Director of the Adam Smith Institute
“Edwards enunciates with unusual clarity, which helps with a book published in 1776.” Talking Book Review

Reviews

Reviews

Author

Author Bio: Adam Smith

Adam Smith (1723–1790) was born in a small village in Kirkcaldy, Scotland. He entered the University of Glasgow at age fourteen and later attended Balliol College at Oxford. After lecturing for a period, he held several teaching positions at the University of Glasgow. His greatest achievement was writing The Wealth of Nations, a five-book series that sought to reveal the true causes of prosperity and which established him as the father of contemporary economic thought.

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Details

Details

Available Formats : Digital Download, Digital Rental, CD, MP3 CD
Category: Nonfiction/Business & Economics
Runtime: 36.00
Audience: Adult
Language: English